8-28 Van Buren St Batavia, IL 60510
- Commercial real estate
- 24,113 SF
Current Use by Public Records
- Commercial real estate
Property Details for 8-28 Van Buren St
- Year built
- 1989
- Property size
- 24,113 SF
- Property type
- Commercial real estate
Description
This exceptional 24,113 square foot retail center in downtown Batavia, Illinois presents a compelling investment opportunity. Currently boasting a 7% cap rate at the asking price of $2,250,000, the property features seven fully occupied units, the majority of which are held by long-term tenants. Its strategic location within a high-density residential area ensures consistent demand for the essential services offered by the tenants, contributing to the property's strong occupancy and long-term lease agreements. A significant value-add opportunity exists due to below-market rents. The anchor tenant, Berkeley Finer Foods, has a lease expiring in May 2025, presenting a unique chance for lease renegotiation, owner-occupancy, or redevelopment. The property's potential is further enhanced by the possibility of attracting higher-rent tenants such as brewpubs, daycare centers, or restaurants. Recent capital improvements include the replacement of rooftop units and resurfacing of the parking lot, minimizing immediate maintenance needs. This established retail center offers a secure and promising addition to any investment portfolio, capitalizing on the affluent Batavia market and its strong tenant base. The property sits on a 0-acre lot at 8-28 S Van Buren Street.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Batavia
- County
- Kane
- State
- Illinois
- Longitude
- -88.303
- Latitude
- 41.8404
